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SELECTED QUARTERLY FINANCIAL INFORMATION (unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Key Quarterly Financial Data

Key Quarterly Financial Data

 

 DOLLAR AMOUNTS IN MILLIONS, EXCEPT PER-SHARE FIGURES

 

 

 

FIRST

QUARTER

 

 

SECOND

QUARTER

 

 

THIRD

QUARTER

 

 

FOURTH

QUARTER

 

 

FULL

YEAR

 

 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Net sales

 

$

1,643

 

 

$

1,692

 

 

$

1,671

 

 

$

1,548

 

 

$

6,554

 

 Operating income

 

$

174

 

 

$

186

 

 

$

202

 

 

$

89

 

 

$

651

 

 Earnings (loss) before income taxes

 

$

(393

)

 

$

91

 

 

$

102

 

 

$

(13

)

 

$

(213

)

 Net earnings (loss)

 

$

(289

)

 

$

128

 

 

$

99

 

 

$

(14

)

 

$

(76

)

 Basic and diluted net earnings (loss) per share

 

$

(0.39

)

 

$

0.17

 

 

$

0.13

 

 

$

(0.02

)

 

$

(0.10

)

 Dividends paid per share

 

$

0.34

 

 

$

0.34

 

 

$

0.34

 

 

$

0.34

 

 

$

1.36

 

 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Net sales

 

$

1,865

 

 

$

2,065

 

 

$

1,910

 

 

$

1,636

 

 

$

7,476

 

 Operating income

 

$

404

 

 

$

476

 

 

$

337

 

 

$

177

 

 

$

1,394

 

 Earnings (loss) before income taxes

 

$

299

 

 

$

382

 

 

$

240

 

 

$

(114

)

 

$

807

 

 Net earnings (loss)

 

$

269

 

 

$

317

 

 

$

255

 

 

$

(93

)

 

$

748

 

 Basic and diluted net earnings (loss) per share

 

$

0.35

 

 

$

0.42

 

 

$

0.34

 

 

$

(0.12

)

 

$

0.99

 

 Dividends paid per share

 

$

0.32

 

 

$

0.32

 

 

$

0.34

 

 

$

0.34

 

 

$

1.32